Here’s what’s happening in our Treasure Coast market right now.
There’s been so much confusion about what’s happening in the real estate market over the last few weeks. Everyone is scared, nervous, and concerned. It might feel like the whole market is upside down right now. However, when I look at the real estate market, I focus on the numbers. That’s why I want to share with you some statistics about what’s happening so you can make an informed decision.
We are starting to see an increase in inventory. There are more homes for sale, and that is a good thing. The last year has been really tough on buyers, and I personally prefer a more balanced market.
“Homes are selling slower, but there are still buyers out there.”
Inventory is up 63% from last year. We had 453 homes for sale at this time last year, and now we have 740. Sales are down 29.9%, from 3,233 sales last year to 2,290 this year. A lot of people are reducing their prices too. They were a bit too aggressive and just couldn’t get the price they thought.
Right now, we are still in a seller’s market. Homes are selling slower, but there are still buyers out there. However, keep in mind that many buyers have been knocked out of the market due to the rising rates. If you’re selling your home, that isn’t great news, but it is if you’re a buyer.
If you have any questions, please call my team or me at (772) 321-6397. We are so excited to put our experience to work for you during this market shift.